Singapore/Hong Kong, 15 December 2020 – LeapXpert was highly commended in the Market & Trading Surveillance category in the 3rd Regulation Asia Awards for Excellence 2020 in an online ceremony on 15 December 2020.
The rise of messenger applications in recent years has presented challenges for financial institutions, particularly when employees use personal messaging for business-related communications. Lost phones, the deletion of communications, and employee departures can all result in the loss of communication records. To guard against these risks, many banks have banned staff from using messaging applications on premise.
LeapXpert takes a different approach, recognising that messaging apps are here to stay. Its Federated Messaging Orchestration Platform (FMOP) elevates messaging between company employees and their clients to a formal business communication channel, similar to calling and emailing.
The platform can integrate with countless third-party messaging platforms – including recently added SMS – effectively allowing employees to continue to communicate with clients via preferred messaging channels through a desktop platform and or the Leap Work mobile app. Financial institutions retain ownership of communications data for compliance and surveillance purposes, even after employment has ended.
“LeapXpert’s technology addresses key compliance challenges associated with employees using personal messaging apps to communicate with clients,” said one judge on the awards platform. “This is a great technical achievement, and truly innovative. Not only does the preservation of records facilitate trading surveillance, it protects both the firm and its personnel from potential noncompliance with regulatory requirements.”
The FMOP is currently in use at three of the top ten global banks, with tens of thousands of end users. LeapXpert is focused on onboarding financial institutions, law firms, insurance companies, and organisations in the retail and hospitality industries.
About the Regulation Asia Awards for Excellence 2020
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that have helped meet the challenges of the ever-changing and increasingly complex regulatory landscape in Asia Pacific. Each year, submissions are diligently evaluated and award winners selected by a panel of industry experts serving as judges.
The full list of award winners is available here.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. With over 8,500 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.